Southern standard. (McMinnville, Tenn.) 1879-current, 1887-09-03
THE R A

The Standard states that 81, 800, 900
have been added to the banking cap
ital of Atlanta since prohibition was
adopted by that city and makes this
statement as an evidence that Allan
ia is enjoying great prosperity. Is
an addition to banking capital evil
dence of the substantial prosperity
and growth of any town? Is it not
rather an evidence that capital has
been directed from public and pri-
vate improvements and being locked
up in Bank stock and United States
bonds? The great body of laboring
men are not benefited by an increase
in banking capital? There is too
much of the wealth of the land tied
up in such things now, for the peo-
pies good.-NeW Era.
Yes, we plead guilty to the soft i'm
parchment. We did set forth the
fact stated above as an evidence that
Atlanta was enjoying great prosper
ity. Our further object, which the
New Era seems to have overlooked,
was to refute the false charges of
whisky organs that prohibition had
killed Atlanta. The Era asks, Is
an addition to banking capital evil
dence of the substantial prosperity
and growth of any town." We an
swer most emphatically, yes! Who
ever heard of a town which was re-
trograding in growth and prosperity
establishingnew banksand increasing
its banking capital. Bankers are
among the shrewdest of business
men, and they don't put their
money into towns which are
on the down grade. New
banks are as much All evidence of in
creasing business prosperity as new
store houses. One would suppose
from the Erals article that its editor
has an idea that all themoney put into
banks, both in capital and deposits,
simply lays idle in the vaults. We
may be mistaken about it, but we
have always had an idea that money
handled through banks circulates
more freely, and is turned over more
frequently than any other. To be
sure the banks make money, but
this is only further evidence that they
are necessary institutions to prosper
Gus business communities. We have
no hesitancy in affirming that all of
Atlanta's capital which " has been di-
rectedfrom" such ''public and private
improvements" as saloons and whis-
ky houses, and "locked up in bank
stock aud United States bonds," is q
very beneficial diversion of funds
for thegreatbodyo of laboring men,"
Money, like every other commodity
cheapens as the volumein circulation
increases, and competition in banks
+ cheapens money the anne as competi.
ton cheapensthe products of any 9TH
er branch of business, consequently we
fail to see why an increase in the
banking capital of any town ISM
beneficial to the I" great body of la
: boring men," But to bring the mat
ter nearer home, and to direct appli
t cation, will the New Era please tel
5 us which would benefit the grea'
body of laboring men" in McMinn.
t vile and Warran county most, an in
crease in McMinnville's banking cap
{. ital, or increase in her saloon capital
, Which would work the greatest inju
ry to "the great body of laborins
men" of this town and county, thu
removal of our banks, or the remov
T. al of our saloons? The Erals wal
| that " there is too much of the wealth
of the land tied up in such thing
now, for the peoples good" has
], decidedly communistic ring, and ou
neighbor seems to be rather inclining
its sympathies to the Henry Georg'
movement. We certainly are of tn
s opinion that to put all Of Tennessee
whisky and saloon capital into bank
. ing capital would be a most beneficial
t change for "the great body of labor
ing men,"